forfeiture

Definition

The legal process of losing your stuff because you broke the rules—whether it's your car because it was used in a crime, your deposit because you violated a contract, or your inheritance because you contested the will. It's the government or courts saying 'nice things you had there, shame they're ours now.' Civil asset forfeiture is particularly controversial when applied overzealously.

Example Usage

After missing three mortgage payments, they faced forfeiture of the property and had to move into his mother's basement.

Source: Legal terminology

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